The latest research report by Emergen Research, named ‘Global Traffic Management Market - Forecast to 2030. The coronavirus outbreak has led to drastic changes in the current Traffic Management Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Traffic Management Market growth assessed on both regional and global levels.
The traffic management market size was USD 36.40 Billion in 2021 and is expected to register a revenue CAGR of 11.6% during the forecast period, according to the latest analysis by Emergen Research. Increasing number of vehicles and insufficient infrastructure are key factors driving growth of the market. Development and launch of multiple smart vehicles by automotive giants are expected to create several opportunities for major market players. In addition, by launching linked and partially automated vehicles, automakers are gradually developing the market for autonomous vehicles.
The traffic management market is witnessing significant growth due to the escalating need for efficient traffic control systems to alleviate congestion, ensure road safety, and optimize transportation networks. Traffic management encompasses a range of technologies and solutions aimed at monitoring, controlling, and managing vehicular and pedestrian traffic flow on roads, highways, and urban areas. With urbanization and population growth leading to increased vehicular traffic, the demand for advanced traffic management solutions is on the rise globally.
Drivers of Traffic Management Market
Several factors are driving the growth of the traffic management market. One of the primary drivers is the rapid urbanization and population growth, particularly in developing regions, leading to increased traffic congestion and road safety concerns. Governments and transportation authorities are increasingly investing in smart traffic management systems to enhance road infrastructure and improve traffic flow. Additionally, the integration of advanced technologies such as artificial intelligence (AI), machine learning, and Internet of Things (IoT) into traffic management solutions is driving market growth by enabling real-time traffic monitoring, predictive analytics, and adaptive control systems.
Major Companies and Competitive Landscape
The Traffic Management Market is fairly consolidated with a few small and medium-sized market players accounting for majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
Cisco, Tomtom, Chevron, Siemens, IBM, Atkins, BioEnable, Omnitec Group, Cubic Corporation, and Kapsch TrafficCom.
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/traffic-management-market
Key inclusions of the Traffic Management Market report:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
Covid impact analysis:
The study on the Global Traffic Management Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Traffic Management Market industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Traffic Management Market industry. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties The Traffic Management Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic.
To understand how our Traffic Management Market can bring difference to your business strategy: https://www.emergenresearch.com/request-sample/1155
Traffic Management Market Segment Analysis
Emergen Research has segmented the traffic management market based on component, system, and region:
· Component Outlook (Revenue, USD Billion; 2019–2030)
Hardware
Solution
Services
· System Outlook (Revenue, USD Billion; 2019–2030)
Urban Traffic Management and Control
Adaptive Traffic Control System
Predictive Traffic Modelling System
Others
Regional Analysis of the Traffic Management Market :
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
Analysis and estimation of the Traffic Management Market size and share for the projected period of 2022-2030
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Strategic recommendations to help readers formulate lucrative business strategies
Identification of the emerging players and their tactical approaches to expand market presence
An extensive study of the product portfolios of the major market players and their regional presence
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Traffic Management Market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market.
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